Canadian New-Home Prices Inch Higher in April

Posted on May 23, 2024

On Thursday, Statistics Canada (StatCan) reported that its New Housing Price Index (NHPI) increased 0.2% monthly in April.

The increase was led by higher prices in large urban centers such as Calgary, Edmonton, and Vancouver. Overall, prices increased in 5 of the 27 census metropolitan areas (CMAs) surveyed, but 15 CMAs where unchanged and 7 posted monthly declines.

Nationally, the prices of new homes edged 0.1% lower in April when compared to April 2023. This decline was less than the year-over-year decline of 0.4% in March.

The largest year-over-year declines in April were registered in Ottawa, down 4.4%, and Saskatoon, down 2.5%. The largest increases were in Calgary, up 3.9%, Vancouver, up 1.3%, and Québec, up 1.2%.

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